Key Points
- CEO Mark Okey Decker, Jr. bought 5,000 shares of Global Medical REIT at an average price of $33.94, a $169,700 purchase that increased his direct ownership by 9.13%.
- The stock opened at $34.11 and has traded between $29.05 and $39.93 over the past year, while the company currently carries a market cap of about $451 million.
- Global Medical REIT recently declared a monthly dividend of $0.16 per share, implying an annualized yield of 5.6%, even as analysts remain mixed with an overall Moderate Buy rating.
Global Medical REIT Inc. (NYSE:XRN - Get Free Report) COO Danica Holley purchased 1,490 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $33.99 per share, with a total value of $50,645.10. Following the transaction, the chief operating officer owned 1,590 shares of the company's stock, valued at approximately $54,044.10. This represents a 1,490.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Global Medical REIT Stock Performance
Shares of XRN opened at $34.11 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.68. Global Medical REIT Inc. has a 12-month low of $29.05 and a 12-month high of $39.93. The stock has a market cap of $451.21 million, a P/E ratio of -30.73 and a beta of 1.11. The company has a 50-day moving average of $35.04 and a two-hundred day moving average of $34.44.
Global Medical REIT Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.16 per share. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT's dividend payout ratio (DPR) is currently -270.27%.
Institutional Investors Weigh In On Global Medical REIT
A number of large investors have recently made changes to their positions in the company. Invesco Ltd. raised its stake in Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company's stock valued at $10,524,000 after purchasing an additional 355,355 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Global Medical REIT during the third quarter valued at approximately $9,997,000. Marshall Wace LLP lifted its holdings in shares of Global Medical REIT by 2,208.2% during the 2nd quarter. Marshall Wace LLP now owns 291,708 shares of the company's stock worth $2,022,000 after acquiring an additional 279,070 shares during the period. Heartland Advisors Inc. raised its position in Global Medical REIT by 177.4% in the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company's stock worth $14,288,000 after purchasing an additional 270,786 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Global Medical REIT in the 3rd quarter worth approximately $7,798,000. Institutional investors and hedge funds own 57.52% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Global Medical REIT from a "hold" rating to a "sell" rating in a report on Saturday. Compass Point reiterated a "neutral" rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. Finally, Weiss Ratings cut shares of Global Medical REIT from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.67.
View Our Latest Analysis on XRN
Global Medical REIT Company Profile
(
Get Free Report)
Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.
Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.
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